Covanta Holding Corp. announced plans to offer an aggregate principal amount of $400 million of senior unsecured notes, according to a March 2 release.

The company plans to use net proceeds to redeem 7.25% senior notes due 2020. In the period between the closing and redemption of the offering, the company plans to use part of the proceeds to repay Covanta Energy LLC's outstanding loans revolving credit facility in an amount up to $152 million and finance short-term interest-bearing account